Buttcoin price

Join @OfficialESC and myself this week for another episode of OnlyFrens, this time featuring esteemed guest and OG cryptographer @narodism. Amir has been deeply involved in the space since most of you were probably even born (2010). After working on Bitcoin (2010-2015) he went on to create DarkWallet with @VitalikButerin, is now working on @DarkFiSquad, and even then still has much more lore for us to explore. As per usual, we’ll all agree on very little, but we will discuss topics such as: -why does censorship-resistant money command a premium? -how can you use technology to empower you to live a better life? -why you should be able to do at least 1 pull up Set a reminder 👇

Rate my 2018 portfolio that I don't have due to mistakes made from a wallet I may or may not control 💀

A chart > 1,000 words BTC is still king 👑

Advanced Blockchain: What are #Canonical Tokens? Canonical means "Primary" or "original". Often used to denote the "true" or unaltered source, as opposed to derivatives or copies. In the current blockchain ecosystem there are many representations of tokens on a native blockchain, on another proxy blockchain, but not as Canonical Tokens but as "proxies" or "derivatives" with centralized backing value. These are unregistered "security contracts" and have risk you may not be aware of. Non Canonical versions of an asset introduce risk, serious risk. Risk includes counterfeiting, centralization and risk of theft. In fact, Non Canonical Tokens are the biggest risk in our blockchain ecosystem. In blockchain we call these "proxy" tokens, Permissioned tokens because their value is determined by the "security agreement" or "backing" reserve, which is controlled by humans, not cryptographic computer code which is the whole point of blockchain in the first place. Example: The most prolific form of Non-Canonical Assets are all the versions of Bitcoin off the Bitcoin blockchain. Why is there such an effort to represent Bitcoin on other networks? To tap into its liquidity. To make it usable. Remember Bitcoin is very simplistic by design and has no execution layer, is slow, and has no computation element, and cannot support decentralized finance. The core use case of Bitcoin is as a value store or as collateral. To make it usable, spendable, and available on other networks which have execution layers and programmatic features and ecosystems of decentralized finance (financial tools), entities and other proxy blockchain projects have tried to Canonicalize Bitcoin in various ways, but have implemented this is Non Canonicalized ways, which you probably are unaware of because they have not disclosed this because regulation was not clear. This changes with the US Clarity Act which will pass into law soon. Centrally Bridged examples of Non-Canonical assets. Centrally Bridged assets are the worst form of Non Canonicalization. This is when a totally separate derivative asset is created out of thin air on the other proxy blockchain and is "backed" logically by a "trust me bro" reserve of native assets in wallets on the native blockchain. Examples: WBTC, cbBTC, xBTC etc. These assets are not Bitcoin. They are counterfeit and are not Canonical in any way. They pose the largest risk in our industry. Why? Because they have no intrinsic value. Their value is logically derived from a "security contract" with the issuer, it is in the hands of humans, (which we know can never trust, that's why blockchain was invented because humans can't be trusted) Examples: Every asset on Hyperliquid except the native HYPE token. Hyperliquid used Non-Canonical bridged assets for all of its representations of assets it supports in its trading platform. Bridged BTC, ETH, SOL, everything tradable on Hyperliquid is Non-Canonical. Examples: Ethereum Layer 2s Like Hyperliquid, all Ethereum Layer 2 sequencers have Non-Canonical versions of "proxy" assets they use in their ecosystem platforms. Now understand, none of these are disclosed as "securities" but they are 100% securities. The supply of the Non Canonical tokens on one chain is "backed" by a reserve of native tokens on the originating blockchain. This "backing" is a security and must be disclosed. Now let's talk about true Canonical Assets in the blockchain ecosystem. There are projects that have taken the time and solved the technical engineering challenge of building true Canonical Assets across blockchains. This means the asset on the proxy blockchain IS THE ACTUAL asset on the native blockchain. When you hold or use the token on one blockchain, it is the actual token on the originating native blockchain, it is not a security. In blockchain we call this Permissionless. Examples of Canonical Tokens in 2025. Examples: Zeus Network Layer - Zeus has built an infrastructure layer allowing assets from any blockchain to be Canonical on Solana through code. Their zBTC spl-20 token is actual Bitcoin, it is not a proxy security like cbBTC. They are extending their infrastructure to support many other assets for use on Solana. Examples: IKA on SUI has built an MPC layer allowing tokens from native blockchains to be used on other blockchains without moving them. This means when you interact with the asset on one chain, their infrastructure is coordinating the transaction to the originating native blockchain without requiring it to move or to give up custody. As we see the technology is progressing. There are already functioning solutions to Canonical Tokens and in the near future legacy Non Canonical Tokens which involve a "security contract" via a bridge will be regulated as securities which they are. It is important to understand this. Learn to differentiate Canonical and Non Canonical Tokens. Understand the risks associated with holding and using Non Canonical Tokens going forward and explore using the Canonical versions of Bitcoin which exist today instead of the Non Canonical versions. @DavidSacks @SenLummis @BoHines

After the ETFs launched last year, I wrote a thread about the consequences for bitcoin, and I said that +90% of all bitcoin would end up in centralised custodians. The thread got 1 million impressions. Many people laughed at that prediction. I wonder if they would laugh today.